Building Details

Year Built 1961

Buildings 1

Construction brick ranch-style

Tenancy Multi

Listing Agency: Keller Williams Chervenic Rlty

Listed By: Aimee Neiman · License #2020001502 Show Phone

Source: Theacclaimedrealty

Added: Aug 2 Changed: Sep 14 Last Checked: Oct 7 at 2:54PM

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Investment Insights

Based on property information with market context.

This 1,755-square-foot brick duplex was built in 1961 and is configured as two residential units. The left unit has undergone extensive renovations, including new windows, air conditioning, granite countertops, and a custom shower. The right unit is also described as being in great condition, providing a property with improvements across both sides.

Both units are occupied under existing leases. The left-side lease runs through 7/31/26, while the right-side lease continues through 8/31/26; each tenancy is scheduled to move to month-to-month status after expiration. The property is located at 3823-3827 Richlawn Rd in Richfield, Ohio, within the Revere School District.

Key Highlights

• Two‑unit brick duplex totaling 1,755 SF
• Built in 1961
• Left unit includes new windows, A/C, granite countertops, and a custom shower

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,072

Cap Rate

4.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$321,440 $321.4K

Cap Rate 7%

$229,600 $229.6K

Cap Rate 9%

$178,578 $178.6K

Market Conditions

NOI Build-Up for 1,755 SF

Gross rent

$24.2K $13.80/SF

− Vacancy

−$1.3K −$0.72/SF

EGI

$23.0K $13.08/SF

− OpEx

−$6.9K −$3.92/SF

NOI

$16.1K $9.16/SF

Area

Summit County, OH

Vacancy

5.20%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$321,440

Cap Rate 7%

$229,600

Cap Rate 9%

$178,578

Alternative Uses

Best Use

Multifamily LT 5

$229.6K

$200.9K – $267.9K (±1% cap)

NOI $16,072 @ 7.0% cap · market cap 4.80%

Second Best

Apartment 5plus

$201.0K

$175.9K – $234.5K (±1% cap)

NOI $14,070 @ 7.0% cap · market cap 4.20%

Theoretical Best

Office A

$430.7K

$376.9K – $502.5K (±1% cap)

NOI $30,148 @ 7.0% cap · market cap 9.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Dental Office Hair Salon Electrical Service Auto Parts Store Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

90

Businesses Nearby

Explore this area Business Placement

Demographics for 44286, OH

6,258

Population

2,770

Households

2.3

Avg Household Size

51

Median Age

50%

College-Educated

98%

High-School Grad

23.6 sq mi

ZIP Area

265

Density / Sq Mi

$115,227

Median Household Income

$65,121

Median Earnings

$1,082

Median Rent

$388,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Fully occupied ranch-style property with one extensively renovated unit and existing leases extending into 2026.

Where is this duplex located?

The property is located at 3823-3827 Richlawn Rd Richfield, OH.

What is the asking price?

The asking price for this property is $335,000.

What are key features of this property?

This property features: Two‑unit brick duplex totaling 1,755 SF; Built in 1961; Left unit includes new windows, A/C, granite countertops, and a custom shower